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[PSA] Shanghai Upgrade is in two days. DO NOT restake on USA CEX’s

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by COINS NEWS 114 Views

If you want to mitigate risk, do not restake on a U.S. CEX.

Regulatory pressures have a high probability to force staking services to shutdown. States (and the sec) can sue these exchanges and cause a Kraken incident.

Unstaking can take weeks to months. If a surprise lawsuit forces an exchange to pull the plug, your ETH is gone. It is not FDIC insured. Exchanges are also not required to backup your funds.

To lower your risk, unstake and restake on a decentralized service

https://decrypt.co/125731/staked-ethereum-withdrawals-could-take-weeks-after-shanghai-upgrade-analyst?amp=1

https://blockworks.co/news/kraken-settles-sec-crypto-staking-program

submitted by /u/Gr8WallofChinatown
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